Up 40% in 1 Day, Is Novavax Stock a Buy Now?
On May 9, (NASDAQ: NVAX) shareholders got a much-needed reprieve from the stock's downward trajectory over the last year. Its shares popped by around 40%, leaving it up 12% in the last 30 days. That won't help investors sitting on losses of 83% in the last 12 months. But management's new plan for the company's future is getting a warm reception so far, and there's a chance that a turnaround might be in the works.
So does this new direction make the stock appealing? Things could be looking up, but there's a bit more to the story. Let's dive in.
Novavax's decline is a regrettable one. Its coronavirus vaccine candidate ran into regulatory issues during clinical development, and arrived on the market much later than those of competitors like Pfizer and Moderna. So the jab failed to secure much in the way of market share once it was approved. Novavax's problems then compounded as it struggled to actually manufacture and deliver many of the doses that its customers paid for and expected to receive.
Source Fool.com
Novavax Inc. Aktie
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